- Home
- Business
- News
- Oil Market Adjustment Caused by US Sanctions Contributed to Price Spike - Biden's Adviser
Oil Market Adjustment Caused By US Sanctions Contributed To Price Spike - Biden's Adviser
Mohammad Ali (@ChaudhryMAli88) Published May 20, 2022 | 09:14 PM
Global oil market adjustments caused by US sanctions against Russia contributed to the spike in energy prices, White House Economic Adviser Cecilia Rouse said on Friday
WASHINGTON (UrduPoint News / Sputnik - 20th May, 2022) Global oil market adjustments caused by US sanctions against Russia contributed to the spike in energy prices, White House Economic Adviser Cecilia Rouse said on Friday.
"As we put sanctions on the Russian banks, etc.
, oil markets have adjusted, we know that the price of oil has really skyrocketed and it has had some consequences for the supply of oil in terms of our refinery capacity and that is largely the reason why we've seen the spike in oil prices over the last two to three months," Rouse said during a virtual panel discussion with think-tank Center for American Progress.
Recent Stories
UHS declares MBBS first prof, MS urology exam results
Separate coaches to be hired for ODIs, Test and T20I formats
Finance Minister calls for reforming tax system to improve country's economy
PM calls for joint efforts to check smuggling, power theft
Infinix Unveils a Vibrant New Chapter with Wahaj Ali: The face of Infinix NOTE 4 ..
PM makes two more appointments in his team
Terrorists of Shangla suicide attack will be brought to justice: Interior Minist ..
Applications Open for 6th Cycle of Start-up Incubation under the National Expans ..
Join vivo's "Light it Up" Social Media Contest in Ramadan to Win vivo V30 5G
Pakistan v New Zealand T20I series: Tickets to go on sale from today
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 29 March 2024
Today Gold Rate in Pakistan 29 March 2024
More Stories From Business
-
Prudent policies lead to sustainable economic recovery: Finance Ministry
58 minutes ago -
Exchange rates for currency notes
2 hours ago -
PTC rebuts misleading tax loss figures, seeks fair market competition
3 hours ago -
Economy commences on better note in 2024: Finance Minister
3 hours ago -
Gold rates up by Rs.3,800 to Rs.234,800 per tola
3 hours ago -
SACM directs authorities to find out solution to problems of miners, crush plants
3 hours ago
-
Weekly inflation falls slightly
3 hours ago -
Uzbekistan's Ambassador, Pakistan’s Commerce minister forge path for enhanced economic ties
3 hours ago -
Finance Minister calls for reforming tax system to improve country's economy
4 hours ago -
Economy commences on better note in 2024: Finance Minister
4 hours ago -
BIST 100 up at Friday’s open
5 hours ago -
Biden administration approves $60M to rebuild Baltimore bridge
5 hours ago